Belden Inc. (BDC) 2003年年度报告「NYSE」.pdf

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1、Annual Report 2003Financial Results($in thousands,except per share amounts)200320022001Revenues$826,521$813,348$968,369Change compared with prior year1.6%(16.0)%(17.2)%Operating earnings/(loss)$(83,876)$(6,048)$60,256 Operating margin(10.1)%(0.7)%6.2%Net income/(loss)$(60,730)$(15,893)$30,958 Dilute

2、d earnings/(loss)per share$(2.41)$(0.64)$1.25 Cash and cash equivalents$94,967$19,409$2,799Total assets$673,555$743,539$722,690 Debt$201,951$203,242$234,703Stockholders equity$274,410$307,195$314,245 Net debt as a percent of total capitalization*28%37%42%Dividend per common share$0.20$0.20$0.20 Cert

3、ain reclassifications have been made to prior year amounts to make them comparable to current year presentation.*“Net debt as a percent of total capitalization”is the ratio of net debt(which is debt less cash and cash equivalents)tototal net capitalization(which is debt plus stockholders equity less

4、 cash and cash equivalents).Belden does not prepayits long-term debt because of make-whole penalties.Net debt indicates the level of financial leverage that would apply toBelden if the cash were used to pay down debt,and we believe it is useful in understanding the companys changingfinancial positio

5、n over time.BELDEN INC.200399000102039900010203$827$813$968Net debt as a percent of total capital*Revenues(in millions)$1,169$819 28%37%42%48%53%1This is a pivotal time in Beldens 101-year history.Market conditions in 2003 were more difficult than expected and led tothe second straight year of repor

6、ted losses.It was also a year inwhich significant progress was achieved in repositioning the company for future growth and profitability.Most significantly,Belden Inc.and Cable DesignTechnologies Corporation(CDT)mutually recognized the potential benefits that a merger of equals could offer sharehold